Internet of Things(IoT) and M2M Market Research Reports & Consulting

M2M Market Forecast

M2M market analyzes all types of connectivity technologies that enables communication between multiple machines, through wired or wireless connections. M2M market focuses on various high-growth connectivity technologies such as cellular, satellite, and various other short-range connectivity technologies.

M2M finds it application in edge devices such as smart appliances and medical devices. The automotive & transportation and utilities sectors are likely to lead the M2M market in near term. Growth of M2M in the automotive & transportation industry is mainly driven by the growing usage of embedded telematics. In utilities M2M is mainly driven by the global demand for smart grids and smart meters.

Internet of Things Market Growth

Internet of Things market is exhibiting strong growth as demand for operational efficiency is increasing among organizations across various end-use applications. Organizations need real-time visibility and intelligence into their organizational and operational data to reach a new level of efficiency, accuracy, and cost-savings. The IoT ecosystem comprises a number of devices, networking infrastructure, software solutions, platforms, and services.

Software solutions and services are leading the Internet of Things market. Various end-user industries such as industrial, oil & gas, automotive & transportation, and healthcare are growing significantly with Industrial IoT leading the charge. IoT is changing the technological landscape across all verticals, and organizations are seeking ways to make improvements amidst the evolution.

Internet of Things Market Analysis

Internet of Things market has seen a drastic acceleration over the past decade. The concept of IoT includes connecting machines and people to sensors and controls. IoT market is witnessing high growth with growing interest of customers in remote and real time monitoring. Industries like manufacturing, healthcare, and automotive are increasingly adopting IoT enabled devices and solutions to boost productivity.

Companies across the ecosystem, mostly IoT software, cloud, and services providers, are generating significant revenue from IoT. Presently, the IoT ecosystem is fragmented with high competitive intensity and is expected that the IoT market ecosystem will be streamlined in next 5 years when companies across the value chain start entering into cross domain collaborations.

M2M Market Forecast

M2M market analyzes all types of connectivity technologies that enables communication between multiple machines, through wired or wireless connections. M2M market focuses on various high-growth connec
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The overall smart home market is expected to grow from USD 76.6 billion in 2018 to USD 151.4 billion by 2024, at a CAGR of 12.02%. The growth of the smart home market is driven by various factors, such as a large base of internet users and increased adoption of smart devices; rise in the awareness of fitness and healthy lifestyles owning to the high disposable income in developing economies; high importance of home monitoring from remote locations; rise in the need for energy- saving and low carbon emission solutions; cost reduction measures enabled by smart homes; rapid proliferation of smartphones and smart gadgets; existence of market players focusing on expanding their smart home product portfolios; and widespread concern about safety, security, and convenience. Other players operating in the smart home market are Amazon, Inc. (US), Apple Inc. (US), Google (US), ADT (US), Robert Bosch Gmbh (Germany), ASSA ABLOY (Sweden), ABB Ltd. (Switzerland), Ingersoll-Rand PLC (Ireland), ABB (Switzerland), Legrand S.A. (France), GE (US), Comcast Corp. (US), Hubbell Inc. (US), Samsung Electronics Co., Ltd. (South Korea), LG Electronics (South Korea), Sony (Japan), Control4 Corp. (US), Lutron Electronics Co. Inc. (US), Vivint (US), and Axis Communication AB (Sweden), among others. Almost all companies, including key players, have adopted a few major strategies such as product developments and launches, mergers and acquisitions, and partnerships and collaborations to grow in the smart home market.

The consumer IoT market is estimated to reach USD 104.4 billion by 2023 from USD 46.8 billion by 2018, at a CAGR of 17.39% during 2018–2023. A few of the major driving factors for the growth of this market include the growing number of internet users and adoption of smart devices, increasing awareness about fitness and rise in disposable incomes in developing economies, and consumer preference for increased convenience and better lifestyle.

The overall wearable AI market is projected to reach USD 42.4 billion by 2023, from USD 11.5 billion in 2018, growing at a CAGR of 29.75% during that period. Major growth drivers are increase in demand for AI assistants, augmentation of operations in healthcare industry, emergence of IoT and integration of wireless technology, growth prospects of wearable component technology, and increase in consumer preference and demand for advanced wearable devices.

The smart agriculture market is estimated to be worth USD 7.53 billion in 2018 and is projected to reach USD 13.50 billion by 2023, at a CAGR of 12.39% between 2018 and 2023. Major factors contributing to the growth of the smart agriculture market include the increasing adoption of advanced technologies in various agriculture applications such as precision farming, smart green house, livestock monitoring, and fish farm monitoring. Changing weather patterns due to increasing global warming have impelled the adoption of advanced farming technologies to enhance farm productivity and crop yield. Farmers or growers across the globe are increasingly adopting advanced farming devices and equipment such as steering and guidance, sensors, yield monitors, display devices, and farm management software. The Americas accounted for a major share of the smart agriculture market in 2017, and the same trend is expected to follow during the forecast period as it is home to several players in the smart agriculture market, such as Deere & Company (US), Trimble, (US), Raven Industries (US), AgJunction, (US), and AGCO (US). These companies have contributed to the growth of the smart agriculture market by launching innovative products and services and by spending extensively on the R&D of smart agriculture solutions.

The overall deep learning market is estimated to be valued at USD 3.18 Billion in 2018 and is expected to reach USD 18.16 Billion by 2023, at a CAGR of 41.7% between 2018 and 2023. Major drivers for this market are improving computing power and declining hardware cost; the increasing adoption of cloud-based technology; deep learning usage in big data analytics; and growing AI adoption in customer-centric services. Companies that are profiled in this report are NVIDIA (US), Intel (US), Xilinx (US), Samsung Electronics (South Korea), Micron Technology (US), Qualcomm (US), IBM (US), Google (US), Microsoft (US), and AWS (US). Some of the key start-ups included in this report are Graphcore (UK), Mythic (US), Adapteva (US), and Koniku (US).

The AI (chipsets) market was worth USD 5.19 Billion in 2017 and is expected to reach USD 59.26 Billion by 2025, at a CAGR of 35.5% from 2018 to 2025. The base year considered for this study is 2017, and the forecast period is from 2018 to 2025. Companies that are profiled in this report are NVIDIA (US), Intel (US), Xilinx (US), Samsung Electronics (South Korea), Micron Technology (US), Qualcomm Technologies (US), IBM (US), Google (US), Microsoft (US), and AWS (US). Some of the key start-ups included in this report are Graphcore (UK), Wave Computing (US), Mythic (US), Adapteva (US), and Koniku (US).

The smart beacon market is expected to be valued at USD 1,363.6 million in 2017 and is likely to reach USD 19,805.5 million by 2023, at a CAGR of 56.2% between 2017 and 2023. The growing adoption of smartphones and the increasing focus on business intelligence to gain competitive advantage are driving the growth of the market. The report profiles the key players in the smart beacon market. The competitive landscape of the market presents an interesting picture of the strategies adopted by these players to grow in the market. Some of the key players in this market are Estimote (US), Aruba (A Hewlett Packard Enterprise Company) (US), Kontakt.io (Poland), Cisco (US), Bluvision (An HID Global Company) (US), Onyx Beacon (Romania), Leantegra (US), Gimbal (US), Accent Systems (Spain), Swirl Networks (US), Sensoro (US), JAALEE Technology (China), Beaconinside (Germany), Blesh (US), and BlueUp (Italy).

The IoT technology market is expected to grow from USD 176.00 Billion in 2016 to USD 639.74 Billion by 2022, at a CAGR of 25.1% during the forecast period. Major drivers for the growth of the IoT technology market are the increasing adoption of cloud platforms, the declining cost of smart sensors, and increasing investments by major giants of this industry in the IoT market. The companies profiled in this report are Intel (US), QUALCOMM (US), Texas Instruments (US), International Business Machines (US), STMicroelectronics (Switzerland), General Electric (US), Hewlett Packard Enterprise (US), Cisco Systems (US), Microsoft (US), Amazon Web Services (US), Symantec (US), PTC (US), and Alphabet (US). The report also covers some of the new players in the Internet of Things (IoT) Technology market such as Ayla Networks (US), Losant IoT (US), Notion (US), Pepper (US), and Helium Systems (US).

The smart office market was valued at USD 18.82 Billion in 2016 and is expected to reach USD 46.11 Billion by 2023, at a CAGR of 12.94% during the forecast period. The base year considered for the study is 2016, and the forecast for the market size is provided for the period between 2017 and 2023. The major players operating in the smart office market include ABB, Cisco Systems, Crestron Electronics, Honeywell, Johnson Controls, Philips Lighting, Lutron Electronics, Schneider Electric, Siemens, and United Technologies Corporation.

The digital twin market was valued at USD 1.82 Billion in 2016 and is expected to reach USD 15.66 Billion by 2023, at a CAGR of 37.87% during the forecast period. The base year considered for the study is 2016, and the forecast for the market size is provided for the period between 2017 and 2023. Major players in the digital twin market include General Electric (US), IBM Corporation (US), Microsoft Corporation (US), Oracle Corporation (US), and PTC, Inc. (US), ANSYS, Inc. (US), Dassault Systèmes (France), and Siemens AG (Germany).

The IoT node and gateway market stood at 2.83 Billion units in 2016 and is expected to reach 17.18 Billion units by 2023, growing at a CAGR of 30.9% during the forecast period. The major drivers for the growth of the IoT node and gateway market is the increasing demand for application-specific microcontroller units (MCUs) and flexible System on Chip (SoC)-type designs, improved internet connectivity in technologically advancing countries, and increased IP address space and security solutions provided in IPv6. Of all the major end-use applications, retail held the largest share of the IoT node and gateway market in 2016, in terms of volume. The growth of retail end-use application was primarily due to the increasing adoption of IoT-enabled products such as contactless checkout/PoS, digital signage, and smart tags.

According to the forecast provided by MarketsandMarkets, the overall connected car market registered a shipment of 5.1 Million units in 2015 and is expected to reach 37.7 Million units by 2022, at a CAGR of 35.54% between 2016 and 2022. The growth of this market is driven by government mandates on telematics applications, implementations of intelligent transportation system (ITS), rapid urbanization, and increasing demand for usage-based insurance (UBI).

The global IoT insurance market is estimated to grow at a CAGR of 65.89% to reach USD 42.76 Billion by 2022. The growing adoption of Internet of Things (IoT) products in developed and developing economies, growing demand for cloud platform and other value-added services in the insurance industry are the major drivers for this market.

The IoT chip market is expected to reach USD 14.81 Billion by 2022 from USD 5.75 Billion in 2015, growing at a CAGR of 13.2% during the forecast period. The major drivers for the growth of the IoT chip market are the increasing demand for application-specific MCUs and flexible SoC-type designs and increasing investments by major giants of this industry in the IoT market.

The wearable technology market size is expected to grow from USD 15.74 Billion in 2015 to USD 51.60 Billion by 2022, at a CAGR of 15.51% between 2016 and 2022. The wearable technology market is expected to grow because of various driving factors, such as consumer preference for sophisticated gadgets, increasing growth prospects of next-generation displays in wearable devices, and growing popularity of Internet of Things (IoT) and connected devices.

The smart connected assets and operations market was valued at USD 103.82 Billion in 2015 and is expected to reach USD 215.53 Billion by 2022, at a CAGR of 10.26% during the forecast period. Many countries are focusing on new innovations and expansions being carried out through the smart cities project, which would help to increase the demand for smart connected assets and operations system in the coming years.

The IoT monetization market was valued at USD 23.09 Billion in 2015 and is expected to reach USD 443.27 Billion by 2022, at a CAGR of 52.98% during the forecast period. The increasing Internet connectivity, increased use of smartphones and other connected devices, and growing adoption of cloud platforms are the major drivers for the IoT monetization market.

The Internet of Robotic Things (IoRT) market is expected to be valued at USD 21.44 billion by 2022, growing at a CAGR of 29.7% between 2016 and 2022. The growth of this market is majorly driven by the adoption of IoRT by e-commerce industry, increasing application areas owing to integration of robots with various technologies, short payback period and ROI.

The IoT communication protocol market is expected to grow from USD 11.44 Billion in 2015 to reach USD 15.80 Billion by 2022, at a CAGR of 4.7% during the forecast period. The base year considered for the study is 2015 and the forecast period is between 2016 and 2022.

The wearable fitness technology market is expected to reach USD 12.44 Billion by 2022, at a CAGR of 13.7% between 2016 and 2022. This market is primarily driven by consumer preference for sophisticated gadgets, increasing popularity of wearable fitness and medical devices, increasing awareness about fitness, and rise in disposable incomes in developing economies.

Smart textiles are gaining popularity at a rapid pace and the major drivers identified for this growth are increasing demand for smartwatches and wristbands, increasing demand for sophisticated gadgets with advanced functions, miniaturization of electronic components, and rapid growth of low-cost smart wireless sensor networks. The overall market for smart textiles is expected to reach USD 4.72 Billion by 2020, at a CAGR of 33.6% between 2015 and 2020.

Machine-to-Machine (M2M) refers to technologies which allow wired and wireless systems to connect to devices of the same type and enable communication within the same. The migration to 3G and 4G networks worldwide and standardization of IPv6 are some of the key reasons for the growth of this technology. The market size of M2M Communications in the U.S. is expected to reach $7,262.76 Million by 2020, at a CAGR of 6.79% between 2015 and 2020.

Wearable computers or products are small electronic devices worn by users which enable mobile computing and wireless networking. Wearable technology is poised to revolutionize the way humans interact with the world around them. Wearable products comprise smart devices equipped with microchips, sensors, and wireless communication capabilities. These devices collect data, track activities, and provide customized experiences to user’s needs and desires. the total wearable computing market is expected to reach up to $34.61 Billion by 2020, growing at a CAGR of 20.7% between 2015 and 2020.

IOT is increasingly demanding more evolved devices from the semiconductor industry, with long lasting battery technologies, low power consumption, and the ability to accurately process and store data at lower costs. The report segments IoT in transportation into six different segments such as component, products & software services, verticals, solutions, application, and geography. The IoT in transportation market is expected to reach $143.93 billion by 2020 at an estimated CAGR of 8.95% from 2014 to 2020. Africa is the leading region in the overall IoT in transportation market, followed by Asia-Pacific (APAC) and the Middle East.

The “human augmentation”, also known as “human enhancement”, basically focuses on creating cognitive and physical improvements in the human body. A basic example that can be cited is the usage of the active control systems to create limb prosthetics in order to exceed the human performance. This market works on techniques that are not only limited to treating illnesses and disability, but also for enhancing human characteristics and capacities. Human Augmentation Market was valued at $91.8 million in 2013 and is expected to reach up to $1135 million by 2020, at a CAGR of 43.52% between 2014 and 2020

Smart grid intends to modernize the power grid by using the latest technology that supports the utility to reduce the transmission and distribution loss. This can be achieved with the help of advanced metering infrastructure, software’s such as SCADA, DRM, DMS, MDMS, etc., and communication networks such as Wi-Fi, ZigBee, Z-Wave, etc.

January 2012

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